| To: LoneClone who wrote (162746) | 1/13/2022 12:39:47 PM | | From: LoneClone | | | | U. S. Antimony Corporation Sets Zeolite Sales Records, Continues Company-wide Process Upgrades Program - Provides Operations Update
accesswire.com
Wednesday, January 12, 2022 8:00 AM
THOMPSON FALLS, MT / ACCESSWIRE / January 12, 2022 / United States Antimony Corporation (USAC - the Company) is pleased to announce that December zeolite shipments from its Bear River Zeolite facility (BRZ, website Bear River Zeolite) totaled 1,837 tons ($482,683) bringing the 2021 annual total to 14,040 tons and $3,027,259.
The Company is pleased to see that the implemented improvements are starting to yield increases in production and profit. Further upgrades are underway and planned at BRZ for both the mill and the mine that will enhance operations. BRZ is a leader in supplying the highest quality zeolite. As the environmental and regulatory demands for remediation of contaminated air and water continue to increase, we expect continuing high demand for our products. Similarly, upgrades to all of USAC's facilities are in various stages of implementation.
USAC's President commented, "The Company's expertise in the processing and refining of antimony combined with the continuing plant improvements made possible with last year's financing have had a positive effect on sales and earnings. I also note that the Rotterdam average price for antimony has increased and appears stable at the highest prices in the past 9 years."
Operations Up-date -November & December
Safety and Environmental
All Company operations reported zero lost time or serious injury accidents during the November-December period.
There were zero environmental spills, discharges, or incidents during the period. A pro-active program of legacy slag clean-up at the Madero Smelter was initiated and is 60% complete.
Production
| Bear River Zeolite ("BRZ"): | November
| December
| | Mined Tons | 1020
| 0
| | Crushed Tons | 628
| 474
| | Shipped Tons | 1290
| 1837
| | Madero Smelter: | November
| December
| | Crude antimony oxide produced: | 18,712 lbs.
| 29,108 lbs.
| | Crude antimony metal produced: | 0 lbs.
| 0 lbs.
| | Finished antimony metal produced: | 80,886 lbs.
| 0 lbs.
| | Crude antimony metal shipped to Montana: | 42,500 lbs.
| 0 lbs.
| | All crude antimony oxide was converted to antimony metal during the Nov/Dec period | | Thompson Falls: | November
| December
| | Antimony Trioxide Sold: | 44,100 lbs.
| 200,968 lbs.
| | Antimony Trisulfide shipped: | 6,000 lbs.
| 1,089 lbs.
|
Operations Upgrades
BRZ: Repair and modification of the apron feeder to the jaw crusher and modifications of the feed bin to the cone crusher were completed during the period. The pouring of concrete foundations for both the new 50'x100' warehouse (for additional storage of product) and for a 40' x 60' shop (for servicing equipment) was completed. A new classification machine on Line-1 which will lessen down-time was ordered and will be arriving and installed in Q1 2022.
Madero: The Madero operations continued to produce crude antimony metal to lessen trucking costs (as compared to crude antimony trioxide) to Thompson Falls. For this period, about two truckloads of purified antimony ingots for shipment directly to customers was produced. As a part of the smelter infrastructure upgrade project, a program to clean-up and process approximately 2000 tons of legacy slag was started and is now 60% complete.
Thompson Falls: Modifications to two new tri-sulphide furnaces were made to increase efficiencies. The modifications to the furnaces were completed and the furnaces are now being re-assembled. These modifications were identified as necessary after assessing the performances of both furnaces while producing test batches of antimony trisulphide in early October.
One of our old short-rotary furnaces (SRF's) has been relined and the refractory fired-in in November. This furnace has been in production since then and the company intends to continue relining aging furnaces in Montana one by one as necessary. The company's increase in wage rates combined with its recruiting efforts has resulted in 4 additional laborers and increased our rate of production by about 57%.
Ambri Inc.: USAC has purchased a dual-deck classifier to upgrade the rate and quantity of production of antimony to supply to Ambri.
Los Juarez/Puerto Blanco: USAC has started processing 2000 tons of selected material mined at the Los Juarez property. The material is being run through the Puerto Blanco flotation mill to produce antimony concentrate also containing precious metals. This 2000 tons was selected from several mined jasperoid outcrops that have been open pitted at Los Juarez. This processing campaign will afford USAC much better statistical data of the head-grade and recovery. Modifications were made in this period to the cyanide leach circuit that eliminated a mechanical problem that had existed. USAC has been solicited by two additional mining/exploration companies in Mexico and are engaged in negotiations towards a potential partnership regarding the exploration of the Los Juarez property.
Forward Looking Statements:
This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, pending contracts and future revenues, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-KSB with the Securities and Exchange Commission.
CONTACT:
United States Antimony Corp.
PO Box 643 47 Cox Gulch Rd.
Thompson Falls, Montana 59873-0643
E-Mail: info@unitedstatesantimony.com
Phone: 406 579 4097
SOURCE: United States Antimony Corp. |
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| To: LoneClone who wrote (162747) | 1/13/2022 12:44:21 PM | | From: LoneClone | | | | i-80 Launches Comprehensive Plan to Create Nevada Focused Gold Mining Company
i80gold.com
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All currencies expressed as United States dollars unless otherwise stated
Reno, Nevada, January 12, 2022 – i-80 GOLD CORP. (TSX:IAU) (OTCQX:IAUCF) (“i-80”, or the “Company”) is pleased to announce its development plans for 2022 – a catalyst-rich year as the Company commences its plans to build a comprehensive Nevada mining complex. i-80 is in the process of developing multiple mining operations to achieve its objective of building a Nevada focused mining company with a goal of ultimately producing more than 500,000 ounces of gold annually.
i-80 completed multiple strategic transactions in 2021, the first year of it being a publicly traded Company, that position the Company to achieve its goal of becoming a prominent, stand alone, gold producer in the state of Nevada. i-80 acquired the Granite Creek, Lone Tree and Ruby Hill properties to become one of the largest holders of gold and silver resources in Nevada (See Table 4).
Importantly, the Company secured the ability to process all types of gold mineralization, including refractory gold bearing mineralization, through the acquisition of the Lone Tree processing complex and also through interim processing agreements with Nevada Gold Mines (“NGM”) that provide the Company with the flexibility to process material from any of the three planned underground operations until the Lone Tree autoclave is restarted. Processing of refractory mineralization remains one of the biggest barriers to entry in Nevada and i-80 is currently one of only three companies with this capability.
To execute its “Hub and Spoke” development plan, i-80 intends to construct four new mining operations over the next three years, complete multiple large-scale drill programs, advance permitting, build a tier-one exploration, development and mining operations team, and restart the Lone Tree autoclave.
Lone Tree will be the “Hub” of i-80’s Nevada operations as the central processing facility, operations office, assay lab and warehouse for all sites. Mineralization from Granite Creek, Ruby Hill, and McCoy-Cove will feed the Lone Tree Autoclave, once restarted, and mineralization from the Buffalo Mountain (and Brooks) open pit will be processed at the Lone Tree heap leach facility. So that investors can better understand deliverables, and track execution progress, the Company is adopting a “Scorecard” as presented in Table 1 below.
“With a strong balance sheet, we are concentrated on achieving our goal of becoming one of Nevada’s largest gold producers”, stated Ewan Downie, Chief Executive Officer of i-80 Gold. “2021 was a highly successful first year for i-80 where we closed multiple strategic acquisitions that position i-80 as one of the largest holders of gold and silver resources in the State.”
“Executing our aggressive growth platform is the key focus for 2022 and management is in the process of building a tier-one management team with a track record of operational excellence in Nevada”, stated Matt Gili, President & Chief Operating Officer of i-80 Gold. “We are targeting peer-best production growth through the development of our portfolio of permitted, road accessible deposits. Additionally, the Company has gained a strategic advantage as one of only three companies in the State with infrastructure to process refractory mineral resources, once the facility has been retrofitted to suit the Company’s deposits.”
Lone Tree Processing Facilities and Buffalo Mountain Project
Lone Tree is expected to become the hub of i-80’s Nevada operations, and the central processing facility for mineralization from the first four planned mining projects. Importantly, Lone Tree is host to infrastructure that, following successful refurbishment efforts, will allow it to process refractory and oxide mineralization. Currently on care and maintenance, the property hosts existing infrastructure that includes a whole ore autoclave with capacity of 1M Tonnes/year, a flotation circuit with capacity of 1.8M Tonnes/year, a CIC circuit & leach pad with 6.5M Tonnes of remaining capacity, a tailings dam with 1.5M Tonnes of remaining constructed capacity and an additional 10 M Tonnes of designed capacity, a waste dump, along with several buildings useful for the development of all i-80’s projects including a warehouse, maintenance shop, administration building and assay lab.
In Q1-2022, the Company plans to award the contract to complete a detailed engineering study for the restart of the autoclave and secure key personnel to execute the restart plan. Additionally, permitting for the development of the Buffalo Mountain open pit mine is underway, where gold mineralization is expected to be processed at the Lone Tree leach pad facility. An initial resource for Buffalo Mountain is expected to be complete in H1-2022.
i-80 considers the Lone Tree infrastructure to be the most strategically located processing facility in Nevada, located on Interstate 80 with the Nevada Railway less than two kilometres to the north, and will be the platform from which i-80 intends to grow its business (see Figure 1 below).
Figure 1 – Aerial view of the Lone Tree Mine Site
Granite Creek Property
The fully permitted Granite Creek underground represents the Company’s most advanced project. Initial rehabilitation of the underground workings was completed in 2021 and additional levels are now being constructed and multiple levels are being prepared for mining. A surface and underground drill program, expected to comprise more than 20,000 metres of drilling, is well underway with positive results. Following the 2022 drill campaign, the Company intends to complete a revised resource estimate focused on the underground mineralized zones.
The Granite Creek Mine Project hosts both open pit and underground resources and is strategically located proximal to Nevada Gold Mines’ Twin Creeks and Turquoise Ridge mines at the north end of the Battle Mountain-Eureka Trend at its intersection with the Getchell gold belt in Nevada. The underground deposit at Granite Creek represents one of the highest-grade gold deposits in North America with resource grades in excess of 10 grams per tonne (“g/t) gold (see Table 2 below).
The primary goal of the 2021/2022 drill program is to advance underground drilling and test mining with a target of ramping up to production in H1-2022. Underground drilling will be focused on delineating sufficient resources for near-term mine development and full production, and a cubex drill was recently added to define initial stoping areas. Initially, material mined from Granite Creek will be trucked for processing at the nearby NGM’s Twin Creeks processing facility through the interim processing arrangement that was entered into for processing until the Company’s Lone Tree facility is operational.
In addition to the underground program at Granite Creek, the surface drilling program testing near-surface mineralization for metallurgical purposes and open pit definition was completed in 2021. This part of the program was competed primarily to advance permitting for open pit mining including heap leach processing on-site. A Preliminary Economic Assessment for the Granite Creek Mine Project was completed in 2021 and a full feasibility study for the open pit project is planned to be completed in the future.
Ruby Hill Project
Ruby Hill includes an open pit mine and related infrastructure (mill / heap leach) and is located immediately west of the town of Eureka proximal to Highway 50. The Ruby Hill Property is host to multiple gold, silver and base metal deposits that collectively comprise one of Nevada’s largest mineral endowments that offer substantial upside. In Q4-2021, i-80 launched a multi-drill campaign that will see a minimum of 20,000 metres drilled in 2022 followed by a resource update. All deposits remain open along strike and at depth.
Multiple gold and polymetallic exploration targets exist on the property and i-80 will begin permitting for the construction of a decline to access the high-grade Ruby Deeps deposit and the Blackjack Zone with the intent of trucking refractory mineralization for processing at Lone Tree (see Figure 2). In H1-2022, i-80 will continue with processing of material mined in H2-2021 at the heap leach facility on the property. Ruby Hill also includes crushing and CIL processing infrastructure (see Figure 3).
Figure 2 – Conceptual Underground Mine Design
*Blackjack is a mineralized zone and not mineral resource
Figure 3 – Ruby Hill Infrastructure
McCoy-Cove Property
In November 2021, i-80 announced that it intended to proceed with its planned underground, advanced-exploration, program at the Company’s 100%-owned McCoy-Cove Property. The underground plan will include the construction of a decline, and a level that will include multiple drill bays in order to upgrade resources and complete a Feasibility Study. The Cove deposit on the Property represents one of North America’s highest grade gold deposits with grades in excess of 10 grams per tonne gold (g/t Au) (see Table 3). The deposit remains open for expansion down-dip.
In the coming weeks, the Company will engage contractors to proceed with the initial underground development plan and drilling of approximately 40,000 metres that is expected to commence in the second half of 2022 followed by a Feasibility Study.
The McCoy-Cove Property is strategically located approximately 50 km south of the Company’s Lone Tree Complex, and immediately south of Nevada Gold Mines’ Phoenix Mine within the Battle Mountain-Eureka Trend. The Property is accessed via all-season road from Highway 55 in Nevada.
ESG Initiative
The Company is focused on achieving industry best ESG practices. Since i-80’s inception in April 2021, the Company completed an ESG Assessment with a third-party consultant which highlighted key areas of focus going forward. The Company intends to grow on this success in 2022 with the goal of aligning with the ICMM Guidelines and has set out a plan to achieve this.
Financial Strength
In 2021, i-80 closed financings that will result in the Company having a strong balance sheet including nearly US$200 Million in cash and cash equivalents following funding of the previously announced financing package.
About i-80 Gold Corp.
i-80 Gold Corp. is a well-financed, Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of four new open pit and underground mining operations that will ultimately process ore at the Company’s central Lone Tree complex that includes an Autoclave.
Technical Information
The scientific and technical information contain in this press release has been reviewed by Tim George, PE, Manager of Engineering Services of i-80 and a Qualified Person within the meaning of NI43-101.
For further information, please contact:
Ewan Downie – CEO
Matt Gili – President & COO
Matthew Gollat – EVP Business & Corporate Development
1.866.525.6450
Info@i80gold.com
www.i80gold.com
Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws, including but not limited to, , completion of refurbishment and development activities at the Long Tree project, commencement of mining operations at the Lone Tree project or the Ruby Hill mine development activities at the Company’s projects and resource updates in respect of certain properties, the objectives set out under 2022 Scorecard – Key Goals & Catalysts in this press release and the ESG initiatives. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the Company’s current expectations regarding future events, performance and results and speak only as of the date of this release.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: failure to obtain the relevant regulatory approvals, material adverse changes, exercise of termination rights by any relevant party, unexpected changes in laws, the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration, refurbishment, development or mining programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Cautionary Note to U.S. Investors Concerning Estimates of Resources: This press release uses the term “inferred resources.” “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility study, except in rare cases. Information contained in the press release containing descriptions of any mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder that disclose mineral reserves and mineral resources in accordance with Industry Guide 7 or the SEC’s new mining disclosure rules in Regulation S-K 1300. SEC Industry Guide 7 does not recognize the existence of resources. Under Regulation S-K 1300, reserve and resource definitions are substantially similar to the corresponding CIM Definition Standards; however, there are differences between NI 43-101 and Regulation S-K 1300 and therefore information contained in the press release may not be comparable to similar information made public by public U.S. companies pursuant to the Regulation S-K 1300 or SEC Industry Guide 7.
Cautionary Statement:
A production decision at each of the Ruby Hill Mine and Lone Tree projects was made by previous operators of the mines, prior to the completion of the acquisition of each such project by the Company and the Company made a decision to continue production subsequent to the acquisitions at each of the projects. This decision by the Company to continue production and, to the knowledge of the Company, the prior production decision at each of the projects were not based on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, which include increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability. Readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.
|
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| To: LoneClone who wrote (162748) | 1/13/2022 1:00:11 PM | | From: LoneClone | | | | Wallbridge Adds Near Surface Mineralization in Area 51 and Extends Tabasco/Cayenne at Depth
wallbridgemining.com
January 12, 2022
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Toronto, Ontario – January 12, 2022 – Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced further positive assay results from its resource drilling program on the Fenelon Gold Property (“Fenelon” or the “Property”), located on the highly prospective Detour-Fenelon Gold Trend in Northern Abitibi, Quebec.
Ongoing drilling within the 2021 mineral resource estimate (“MRE”) open pit shell has intersected new, near-surface mineralization grading 2.59 g/t of gold over 57.65 metres in drill hole FA-21-304. Deep resource drilling, below the current extent of the MRE has also been successful in extending the Eastern Shoot of the Tabasco/Cayenne Zones with 9.70 g/t of gold over 3.70 metres in hole FA-21-311-W1.
“These drilling results continue to validate substantial opportunities to increase the mineral resources within the known footprint of the Fenelon deposit, and within the extensions along strike and at depth,” stated Marz Kord, President & CEO of Wallbridge. “In Area 51, we have encountered several new intersections with open pit potential, at higher grades than the average open pit grade in our 2021 MRE. Over the course of 2022, in addition to resource expansion and exploration drilling, we will continue to target zones with the potential to deliver higher grade near surface mineralization inside the current pit shell, which will strengthen the overall economics of the open pit component of the project.”
Resource Expansion Drill Results
Highlight expansion intersections since the last news release from this program include:
| FA-21-304 | 2.59 g/t Au over 57.65 metres, including | | | 18.81 g/t Au over 2.10 metres, and | | | 31.51 g/t Au over 2.50 metres in Area 51; |
This intersection is near surface, starting at a vertical depth of only 110 metres and located inside the 2021 MRE open pit shell, but not within the resource block model.
| FA-21-311-W1 | 9.70 g/t Au over 3.70 metres in the Tabasco Zone; |
This intersection is at a vertical depth of 1,200 metres, 170 metres below the last intersection of the Tabasco/Cayenne Zones in the Eastern Shoot.
Resource In-fill Drill Results
Infill drilling to improve the quality and robustness of the existing resources remains ongoing. The following are highlight infill intersections since our last update:
| FA-20-159-W3 | 1.40 g/t Au over 53.85 metres, including | | | 2.44 g/t Au over 18.80 metres, which includes | | | 4.71 g/t Au over 5.20 metres in Area 51; | | | | | FA-21-314 | 1.01 g/t Au over 36.20 metres, and | | | 2.98 g/t Au over 16.60 metres in Area 51; | | | | | FA-21-314-W1 | 0.88 g/t Au over 34.65 metres, including | | | 3.59 g/t Au over 4.80 metres in Area 51; |
Assay results from 11 drill holes of the 2021 Fenelon drill program are reported in the Table and Figures below. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” at wallbridgemining.com.
Figure 1. Fenelon Gold, Plan View
Figure 2. Fenelon Gold, Long Section
Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1)
| | Drill Hole | From | To | Length | Au | Au Cut(2) | VG(3) | Zone/Corridor | Section | In-fill or Expansion | | | (m) | (m) | (m) | (g/t) | (g/t) | | | | | | FA-20-159-W3 | 552.50 | 606.35 | 53.85 | 1.40 | 1.40 | VG | Area 51 | 10200 | In-fill | | Including… | 552.50 | 559.10 | 6.60 | 2.93 | 2.93 | | Area 51 | 10200 | In-fill | | And… | 575.00 | 593.80 | 18.80 | 2.44 | 2.44 | VG | Area 51 | 10200 | In-fill | | Which Includes… | 575.00 | 580.20 | 5.20 | 4.71 | 4.71 | VG | Area 51 | 10200 | In-fill | | FA-20-205-W2 | No Significant Mineralization (4) | 10350 | | | FA-20-205-W3 | No Significant Mineralization (4) | 10350 | | | FA-21-304 | 56.00 | 64.80 | 8.80 | 0.77 | 0.77 | | Area 51 | 9825 | In-fill | | FA-21-304 | 104.35 | 162.00 | 57.65 | 2.59 | 2.19 | VG | Area 51 | 9825 | Expansion | | Including… | 124.90 | 127.00 | 2.10 | 18.81 | 18.81 | | Area 51 | 9825 | Expansion | | And… | 159.50 | 162.00 | 2.50 | 31.51 | 22.31 | VG | Area 51 | 9825 | Expansion | | FA-21-307 | 438.70 | 447.50 | 8.80 | 1.27 | 1.27 | | Gabbro East Extension | 10800 | In-fill | | FA-21-310 | 272.00 | 282.00 | 10.00 | 0.65 | 0.65 | | Tabasco | 9600 | Expansion | | FA-21-311 | 160.00 | 161.30 | 1.30 | 5.53 | 5.53 | | Area 51 | 10350 | Expansion | | FA-21-311 | 290.00 | 292.50 | 2.50 | 2.23 | 2.23 | | Area 51 | 10350 | Expansion | | FA-21-311 | 616.50 | 619.00 | 2.50 | 3.44 | 3.44 | | Area 51 | 10350 | Expansion | | FA-21-311 | 967.50 | 968.10 | 0.60 | 10.90 | 10.90 | | Area 51 | 10350 | Expansion | | FA-21-311 | 1072.80 | 1074.31 | 1.51 | 5.69 | 5.69 | VG | Area 51 | 10350 | Expansion | | FA-21-311-W1 | 1308.50 | 1313.55 | 5.05 | 2.21 | 2.21 | | Tabasco | 10350 | Expansion | | FA-21-311-W1 | 1348.50 | 1352.20 | 3.70 | 9.70 | 9.70 | | Tabasco | 10350 | Expansion | | FA-21-311-W1 | 1385.50 | 1388.50 | 3.00 | 1.90 | 1.90 | | Tabasco | 10350 | Expansion | | FA-21-313 | No Significant Mineralization (4) | 10725 | | | FA-21-314 | 270.00 | 306.20 | 36.20 | 1.01 | 1.01 | | Area 51 | 10125 | In-fill | | Including… | 286.50 | 288.00 | 1.50 | 9.82 | 9.82 | | Area 51 | 10125 | In-fill | | And… | 303.00 | 306.20 | 3.20 | 2.64 | 2.64 | | Area 51 | 10125 | In-fill | | FA-21-314 | 360.40 | 377.00 | 16.60 | 2.98 | 2.98 | VG | Area 51 | 10125 | In-fill | | Including… | 360.40 | 362.00 | 1.60 | 24.89 | 24.89 | VG | Area 51 | 10125 | In-fill | | FA-21-314-W1 | 408.00 | 423.50 | 15.50 | 0.53 | 0.53 | VG | Area 51 | 10125 | In-fill | | FA-21-314-W1 | 440.00 | 449.00 | 9.00 | 0.93 | 0.93 | | Area 51 | 10125 | In-fill | | FA-21-314-W1 | 457.20 | 488.00 | 30.80 | 1.31 | 1.31 | VG | Area 51 | 10125 | In-fill | | Including… | 474.00 | 482.00 | 8.00 | 2.78 | 2.78 | VG | Area 51 | 10125 | In-fill | | FA-21-314-W1 | 513.35 | 548.00 | 34.65 | 0.88 | 0.88 | VG | Area 51 | 10125 | In-fill | | Including… | 513.35 | 518.15 | 4.80 | 3.59 | 3.59 | VG | Area 51 | 10125 | In-fill | | FA-21-314-W1 | 679.60 | 724.90 | 45.30 | 1.25 | 1.25 | VG | Tabasco | 10125 | In-fill | | Including… | 702.30 | 703.80 | 1.50 | 22.01 | 22.01 | VG | Tabasco | 10125 | In-fill | | FA-21-315 | No Significant Mineralization (4) | 10125 | |
(1) Table includes only assay results received since the latest press release dated December 9, 2021.
(2) Au cut: High-grade capping is 75g/t Au for Area 51 and 110 g/t Au for Tabasco-Cayenne-Contact Zones.
(3) Intervals containing visible gold ("VG").
(4) Metal factor of at least 5.25 g/t*m and a minimum weighted average composite grade of 0.35 g/t Au for intervals within/beside the 2021 MRE open pit shell, or metal factor of at least 7.50 g/t*m and a minimum weighted average composite grade of 1.50 g/t Au for intervals below the depth extent of the 2021 MRE open pit shell.
Note: True widths are estimated to be 50?80% of the reported core length intervals.
Assay QA/QC and Qualified Persons
Drill core samples from the ongoing drill program at Fenelon are cut and bagged either on site or by contractors and transported to SGS Canada Inc., AGAT Laboratories Ltd. or Bureau Veritas Commodities Canada Ltd. for analysis. Samples, along with standards and blanks that are included for quality assurance and quality control, were prepared and analyzed at the laboratories. Samples are crushed to 90% less than 2mm. A 1kg riffle split is pulverized to 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. At SGS, AGAT and Bureau Veritas samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re?analysis for quality assurance and quality control.
The Qualified Person responsible for the technical content of this press release is Peter Lauder, P.Geo, Exploration Manager of Wallbridge.
About Wallbridge Mining
Wallbridge is currently advancing the exploration and development of its 100%?owned Fenelon Gold property located along the Detour?Fenelon Gold Trend, an emerging gold belt in northwestern Québec. Within three years of the discovery of the Area 51 and Tabasco/Cayenne Zones, through drill programs totaling over 300,000 metres, Wallbridge reached an important milestone by announcing a maiden MRE for Fenelon and an updated MRE for the Martiniere Gold Property totalling 2.67 Moz Au in the indicated category and 1.72 Moz Au in the inferred category ((for details of the MREs see Wallbridge press release dated November 9, 2021 and Technical Report filed December 23, 2021 on SEDAR).
Both properties are located on the Company’s 910 km2 land package along the Detour-Fenelon Gold Trend in Northern Abitibi, Québec, with significant potential for further discoveries over a 97?kilometre strike length of this underexplored belt.
Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately?held company with a portfolio of nickel, copper, and platinum?group metals (PGM) projects in Ontario's Sudbury Basin.
This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.
For further information please visit the Company's website at www.wallbridgemining.com or contact:
Wallbridge Mining Company Limited
Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682?9297 ext. 251
Email: mkord@wallbridgemining.com
Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: vvargas@wallbridgemining.com
Cautionary Note Regarding Forward-Looking Information
This press release of Wallbridge Mining Company Limited ("Wallbridge" or the "Company") contains forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this press release.
All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”
FLI herein includes, but is not limited to: future drill results; the Company’s ability to convert inferred resources into measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and methods used to estimate the mineral resource estimates (each an “MRE”) at the Fenelon Gold and Martiniere properties (collectively the “Deposits”); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance of historic exploration activities and results.
FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may be required by law. Unless otherwise noted, this press release has been prepared based on information available as of the date of this press release. Accordingly, you should not place undue reliance on the FLI or information contained herein.
Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.
Assumptions upon which FLI is based, without limitation, include: the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or methods used to estimate the MREs; the ability of the Company to obtain required approvals; the results of exploration activities; the evolution of the global economic climate; metal prices; environmental expectations; community and non-governmental actions; and any impacts of COVID-19 on the Deposits, the Company’s financial position, the Company’s ability to secure required funding, or operations. Risks and uncertainties about Wallbridge's business are more fully discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedar.com.
Covid?19 ? Given the rapidly evolving nature of the Coronavirus (COVID?19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The Company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.
Information Concerning Estimates of Mineral Resources
The disclosure in this press release and referred to herein was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). The terms "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" used in this press release are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the "CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly, information contained in this press release providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.
Investors are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, "inferred mineral resources" are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the "SEC Modernization Rules"), with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". Information regarding mineral resources contained or referenced in this press release may not be comparable to similar information made public by companies that report according to U.S. standards. While the SEC Modernization Rules are purported to be "substantially similar" to the CIM Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards. Accordingly, there is no assurance any mineral resources that the Company may report as "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the resource estimates under the standards adopted under the SEC Modernization Rules. |
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| To: LoneClone who wrote (162749) | 1/13/2022 1:34:14 PM | | From: LoneClone | | | | Riverside Resources Corporate Outlook for 2022
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - January 12, 2022) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to provide an outlook on the upcoming 2022 year's catalysts and some of the Company's achievements and milestones in 2021. Riverside continues to progress its Project Generator business model through staking quality prospects, working with partners, finding undervalued acquisitions, and advancing some of its main assets and retaining royalties on all its projects. Moving into 2022, the company will be very active on self-funding programs including having a cash position of over $5M and with partners such as BHP (one of the world's largest mining companies) and junior partners like Carlyle Commodities and Southern Empire for mineral exploration in Sonora, Mexico.
In 2022, Riverside expects to generate strong news flow from the following key projects and partnerships:
- La Union Project, Sonora - Riverside working diligently to follow up high grade gold, silver and base metals with big potential discoveries targeted on the horizon;
- While advancing its 100%-owned, La Union Project, Riverside's technical team is seeing strong potential moving forward. Results from January 2022 have demonstrated presence of up 84 g/t Au and >1500 g/t Ag in rock chip samples (see press release January 5, 2022);
- The Oakes Project, Ontario - Riverside is progressing its IP interpretation and moving towards a self-funded drilling program for top potential targets in Q1 / 2022;
- All internal data and evidence of high-grade mineralization presented in strong anomalous IP results, are leading the way for Riverside to take the next stage of drilling for its Canadian flagship project in 2022;
- BHP Partnership, Sonora - Riverside has additional deals in the works, which are expected to close and be announced early this year. The company is also progressing on 3 funded programs with spending of over $3M in the first 6 months of 2022.
- Copper exploration alliance on selected and defined projects, finalizing third party acquisitions, and advance work toward drilling;
- Working to develop a new exploration partnership with a major mining company.
- Acquire new mineral districts with past production, extensive exploration upside and company making potential.
- Complete further drilling as part of the Carlyle partnership on the Cecilia project, which could define a possible mineralized body at depth around the Cerro Magallanes main dome.
- Progress the Cuarentas Gold Project in Sonora with further drilling, and potentially test the porphyry copper center while expanding on the 2021 drill program.
- Complete further farm out option deals from the Riverside portfolio such as Suaqui Grande, Suaqui Verde, High Lake and others.
- Riverside plans to progress the Longrose and Pichette properties located in the Geraldton Greenstone Belt, Ontario with exploration and likely partnerships.
- Porphyry Copper portfolio project, Ariel in Sonora - work with partner to drill test the porphyry copper targets.
These upcoming catalysts are summarized in the video link here:
newsfilecorp.com
As a brief recap of progress during 2021: Riverside started strong with multiple high-grade drill intercepts and one in particular of 25 m at 1.51 g/t Au at the Cecilia project, currently under the option agreement with Carlyle Commodities. The drill program with Carlyle was followed by additional funding from the exploration alliance with BHP where Riverside received US$3.5M for its copper project generation activities in Sonora. This investment has brought new and multiple opportunities for the BHP-Riverside selected projects, including third party acquisitions with additional funding towards geophysics and more detailed work with Riverside as the operator. After close to 3 years of partnership, BHP and Riverside are entering into more defined programs for the selected projects of interest, and specific findings that could trigger drilling in the near future. This progression is in line with the expected milestones and timelines that were laid out when Riverside first entered into this agreement with BHP.
This partnership with BHP is valuable to Riverside, as it opens up the possibility of making significant discoveries through accessing the major companies full carry of funding costs while seeking large new copper finds. In 2022 the partnership between BHP and Riverside is focused on more defined and detailed exploration, and therefore further advances the possibility for new large copper porphyry discoveries. With size and scale being the primary determinant of the viability and longevity of a mining operation, such a discovery would certainly be a game changer and more than five programs have now been generated with more coming in H1/2022.
As Riverside entered the second half of 2021, the company began exploring the Union project, a property that has been part of Riverside's portfolio in Sonora, Mexico. Consolidation and acquisition of the strategic claims for this project was set as a near-term goal that Riverside achieved. The company is now moving forward with a better understanding of the mineralized system and potential high grade gold and silver found at surface near the old workings at La Union district.
In Canada, Riverside increased its activity across its portfolio in 2021, including sale of the High Lake Greenstone Project and recovery of the Geraldton Greenstone Belt project portfolio including the high priority and drill-ready Oakes Gold project 20 kms east of the Hard Rock Gold Mine construction of Equinox Gold which will exceed 400,000 ounces gold per year production.
Equally important for Riverside has been the fact that it has managed and advanced this portfolio of assets in two countries with a tight share of only 71M shares outstanding and no warrants. This is in keeping with Riverside's philosophy of ensuring that capital intensive exploration should be done with a focus on creating the up most shareholder return while optimising a shared risk.
The company is now poised for strong upward movement with its quality assets as summarized on the website, particularly with the upcoming 2022 catalysts as outlined below:
Riverside's President and CEO, John-Mark Staude, stated: "We are excited by the good targets in Mexico and Canada and the strong team of people including our financing partners as we move ahead for an active first quarter of 2022 and throughout this coming year. Having strong treasury of over $5M with no warrants and no debt, Riverside has an excellent balance sheet as well as an ambitious technical outlook."
Upcoming Events:
Riverside Resources Inc. will be exhibiting in person at the AME Roundup Project Generators Hub from January 31 to February 3 and the PDAC in person event (March 7-9) and virtual show from March 8-11. Make sure to stop by our in person or virtual booths for both conferences and a detailed update on the Company's plans for the year ahead. Contact the company about this information if you are not able to attend the conference virtually through our contact information below.
AME Roundup | January 31st to February 3rd (In-Person and Virtual Event)
newsfilecorp.com
PDAC 2020 Virtual Convention | March 7th to 9th (In-Person)
newsfilecorp.com
Qualified Person & QA/QC:
The scientific and technical data contained in this news release was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $5M in cash, no debt and less than 72M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside's own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company's website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com
Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
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| To: LoneClone who wrote (162750) | 1/13/2022 1:45:10 PM | | From: LoneClone | | | | Capitan Mining Drills 35.1m of 0.42 g/t AuEq Including 4.6m of 1.1 g/t AuEq and Has Entered into an Agreement to Buyback All Outstanding Royalties at the Penoles Project
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - January 13, 2022) - Capitan Mining Inc. (TSXV: CAPT) ("Capitan" or the "Company") is pleased to report results for six reverse-circulation (RC) drill holes from the Capitan Hill oxide-gold deposit, at its 100%-owned Peñoles project in Durango, Mexico. In addition, management is also pleased to report that after several months of negotiation they have entered into a purchase agreement to acquire a portfolio of royalties including a 2% royalty on the Capitan Gold oxide deposit from Exploraciones Altiplano.
Highlights:
Drillhole CARC 21-48: returned 35.1m of 0.42 g/t Aueq including 4.6m of 1.1 g/t AueqExtends mineralization 170m down-dip from hole 21-CARC-25 on cross section -100Royalty Buyback: Total purchase price of royalty portfolio is US $1.0M over two years, payable in cash and sharesThe Altiplano royalty portfolio included a 2% net smelter royalty (NSR) on the Capitan Hill oxide-gold depositAny shares issued to Altiplano are subject to right of first refusal (ROFR) allowing Capitan to market and place shares with investors if Altiplano elects to sellThis transaction with Altiplano in combination with Capitan's contractual option to retire Riverside Resources 1% royalty for C$250,000 will leave the Peñoles project royalty free and will enhance overall project economics for investorsDrilling to resume in late January following holiday breakAssays for 11 drill holes are pending Royalty Purchase Agreement
Capitan Mining has entered into a purchase agreement to acquire all outstanding net smelter royalties (NSR's) on mining claims in the Peñoles project from Exploraciones del Altiplano, a private Mexican exploration company. The royalties covered a number of targets including the current gold-silver resource areas of Capitan and Jesús María. This included a 2% NSR on the Capitan Hill claims, 0.75% on claims covering the Jesús María, San Rafael, Pinchazo and Capitan 2 targets and 0.5% on third-party claims surrounding these targets. The total consideration for the transaction is US$1.0M, which will be paid 50% in cash and 50% in Capitan shares over a staged 2-year payment schedule. Capitan will also retain a right of first refusal (ROFR) on any shares distributed to Altiplano as consideration for the royalty purchase; allowing the company the opportunity to place Altiplano's shares, upon written notice from Altiplano of their intentions to sell.
In addition to the royalties held by Altiplano, the Peñoles project has a 1% royalty owned by Riverside Resources which was created as part of the asset spinout in 2020. Capitan has the contractual option to purchase and retire the Riverside royalty for C$250,000 at any time.
Capitan's CEO, Alberto Orozco, stated: "We are very happy to have completed the purchase of the Peñoles project royalty portfolio from Exploraciones Altiplano. This agreement paves the way for the project to be royalty-free and will benefit all shareholders going forward, as we evaluate the economics of the Capitan Hill oxide-gold deposit."
Exploration update: Capitan Hill Oxide-Gold Deposit
The results for the final 6 holes of the 2021 Phase 2 drill program at the Capitan Hill oxide-gold deposit are presented below. These drillholes consisted of both step-out drill holes located in the central and southeastern portion of the deposit as well as one infill hole located in the western portion of the deposit.
Central and Southeast Step-out Holes
Holes 21-CARC-44, 46, 47, 48 and 49 tested the down-dip extension of the Capitan zone in the central and southeast portion of the deposit, to extend both the Capitan main and Hanging wall zones to the south.
Hole-21-CARC 48, was a 170m step-out on section -100, and was successful in extending mineralization on that respective section. The hole returned several, narrow, low-grade intervals over the first 200m of the hole, similar to adjacent holes that are on-strike and up-dip. Of particular significance, the hole returned the highest-grade interval to date in the southeastern portion of the Capitan deposit returning 35.1m of 0.42 g/t Aueq, including 4.6m of 1.1g/t Aueq. This interval occurred just before the hole terminated and is the deepest intersection of higher-grade mineralization to date at Capitan Hill. This intersection also supports the hypothesis that the holes above, may not have been drilled deep enough (zone was displaced to depth), given the position of mineralized interval in hole 21-CARC-48. (See Figures 1 & 2)
Holes 21-CARC-44, 46, 47, and 49 were large step-out holes located on sections 100, -250, 200, and 000 respectively. These step-out holes were drilled between 75 and 175m down-dip from the previous holes on their respective sections. In general, these holes returned relatively narrow, low-grade intercepts that did not correlate well with mineralization returned in previous drilling located up-dip (see Table 1 below). Given that the holes above were all drilled in the same vicinity as one another, it is interpreted that there may be some displacement of the main zone down-dip, possibly related to the Santa Theresa fault, which the holes crossed before they reached their target depth. Of note: the above holes were terminated due to the depth capacity of the rig, and ground conditions.
Figure 1: 2020-2021 Drill Hole Map at Capitan Hill Oxide-Gold Deposit
To view an enhanced version of Figure 1, please visit:
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Figure 2: Cross Section
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Strategic Infill
Hole 21-CARC-45 is located on section 350 and was designed to twin a historic diamond drill hole that was not sampled adequately. The hole intersected both the Hanging Wall and Capitan Main zone and returned width and grades typical of the mineralization in that area. In total, 74.7m of gold mineralization was encountered at the Capitan Main Zone in two separate intervals, with the best interval returning 44.2m at 0.28 g/t Aueq.
Summary of Phase 2 Program
The 2021 Phase 2 drill program was focused on testing and expanding the continuity of oxide gold mineralization at the Capitan Hill deposit, to better define the boundaries of both the Capitan Main Zone, and the more poorly defined Hanging Wall Zone.
Step-out drilling during the 2021 Phase 2 program, has significantly expanded the footprint of both the Hanging Wall and Capitan Main zone compared to the 2020 envelope (See Figure 3). Additionally, infill drilling has helped to define higher-grade shoots within the lower grade envelope in the central and western portions of the deposit.
The Phase 2 program totals include 6,036m of drilling completed in 21 RC drillholes, bringing the total amount of drilling by Capitan to 12,208m. Drilling continues at Capitan's Penoles project and management will provide guidance in a separate press release in the coming week.
Figure 3a: Expansion of mineralization at the Capitan Hill oxide-gold deposit (3D View)
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Figure 3b: Expansion of mineralization at the Capitan Hill oxide-gold deposit (3D View)
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Top Image (3a): Historic (Pre-2020) Drillhole Locations, showing >0.25 g/t Au Isosurface Outline and Dimensions.
Bottom image (3b): Historic and 2020-21 Drillhole Locations, with current >0.25 g/t Au Isosurface Outline and Dimensions.
Table 1. Table of Drill Results (Holes 44-49)
| Hole Name | Az. | Dip | Section | Zone | From (m) | To (m) | Interval (m) | AuEq (g/t) * | Au (g/t) | Ag (g/t) | OX-SUL | | 21-CARC-44 |
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| | Interval | 28 | 65 | 100 | Capitan Main | 79.2 | 82.3 | 3.0 | 0.11 | 0.11 | NSV** | OX | | 21-CARC-45 |
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| | Interval | 28 | 55 | 350 | Hanging Wall | 7.6 | 21.3 | 13.7 | 0.14 | 0.14 | NSV** | OX | | Interval |
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| Hanging Wall | 25.9 | 44.2 | 18.3 | 0.17 | 0.17 | NSV** | OX | | Interval |
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| Capitan Main | 114.3 | 144.8 | 30.5 | 0.22 | 0.18 | 2.73 | OX | | Interval |
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| Capitan Main | 155.4 | 199.6 | 44.2 | 0.28 | 0.21 | 5.79 | MIX | | 21-CARC-46 |
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| | Interval | 28 | 60 | -250 | Hanging Wall | 0.0 | 13.7 | 13.7 | 0.16 | 0.16 | NSV** | OX | | Interval |
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| Hanging Wall | 19.8 | 22.9 | 3.0 | 0.11 | 0.11 | NSV** | OX | | 21-CARC-47 |
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| | Interval | 28 | 65 | 200 | Capitan Main | 236.2 | 239.3 | 3.0 | 0.25 | 0.24 | 1.15 | OX | | Interval |
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| Capitan Main | 254.5 | 271.3 | 16.8 | 0.28 | 0.25 | 2.46 | OX | | 21-CARC-48 |
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| | Interval | 28 | 65 | -100 | Hanging Wall | 38.1 | 44.2 | 6.1 | 0.13 | 0.13 | NSV** | OX | | Interval |
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| Hanging Wall | 48.8 | 54.9 | 6.1 | 0.12 | 0.12 | NSV** | OX | | Interval |
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| Hanging Wall | 97.5 | 105.2 | 7.6 | 0.12 | 0.12 | NSV** | OX | | Interval |
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| Capitan Main | 157.0 | 160.0 | 3.0 | 0.12 | 0.12 | NSV** | OX | | Interval |
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| Capitan Main | 169.2 | 173.7 | 4.6 | 0.19 | 0.19 | NSV** | OX | | Interval |
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| Capitan Main | 198.1 | 202.7 | 4.6 | 0.12 | 0.12 | NSV** | OX | | Interval |
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| Capitan Main | 211.8 | 228.6 | 16.8 | 0.17 | 0.17 | NSV** | OX | | Interval |
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| Capitan Main | 249.9 | 266.7 | 16.8 | 0.19 | 0.16 | 2.04 | OX | | Interval |
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| Capitan Main | 280.4 | 315.5 | 35.1 | 0.42 | 0.39 | 2.58 | MIX | | including |
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| Capitan Main | 288.0 | 292.6 | 4.6 | 1.10 | 1.08 | 1.83 | OX | | including |
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| Capitan Main | 297.2 | 301.8 | 4.6 | 0.72 | 0.70 | 1.90 | OX | | 21-CARC-49 |
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| | Interval | 28 | 65 | 00 | Hanging Wall | 42.7 | 45.7 | 3.0 | 0.29 | 0.29 | NSV** | OX |
Note: Only drill intercept lengths are reported in the table. Drill holes are designed to cut the mineralized zones as close to true width as possible, with true widths ranging from 70-95% of the reported drilled length.
* Gold equivalent calculated at 80:1 ratio
**No significant values.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Peñoles Project was reviewed and approved by Marc Idziszek, P.Geo, a non-independent qualified person to Capitan Mining, who is responsible for ensuring that the technical information provided in this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Capitan Mining Inc. has a Quality Assurance/Quality Control program that includes insertion and verification of control samples including standard reference material, blanks and duplicates consistent with industry standards.
RC drill samples from the Peñoles Project are collected and split at the drill site using a Gilson Universal Splitter. The samples are stored in either plastic bags (dry) or micropore bags (wet) and secured with plastic zip-ties and then transported to the preparation laboratory of Bureau Veritas in Hermosillo, Sonora. The sample pulps are then transported to the Bureau Veritas' laboratory in Vancouver, where they are assayed for gold by fire assay with atomic absorption finish (FA430 assay method code; 0.005 to 10 ppm detection limit). Samples over 10 ppm Au are assayed with gravimetric finish (Assay code FA530). All samples are also assayed by ICP-ES (code AQ300) for a suite of 33 elements.
All summarized intervals reported in this press release were calculated using a 0.10 ppm Au cut-off grade. Intervals contain no more than 3 metres of internal dilution. High grades have not been capped.
About Capitan Mining Inc.:
Capitan Mining is a well-funded junior exploration company focused on its 100% owned gold and silver Peñoles Project in Durango, Mexico. The company is led by a management team that has successfully advanced and developed several heap leach operations in Mexico over the past 16 years. More information for the Company can be found at www.capitanmining.com.
ON BEHALF OF CAPITAN MINING INC.
"Alberto Orozco"
Alberto Orozco, CEO
For additional information contact:
Alberto Orozco
CEO
Capitan Mining Inc.
info@capitanmining.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.capitanmining.com
Raffi Elmajian
Corporate Communications
Capitan Mining Inc.
info@capitanmining.com
Phone: (604) 358-2601
Web: www.capitanmining.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Capitan in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
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| To: LoneClone who wrote (162751) | 1/13/2022 1:55:01 PM | | From: LoneClone | | | | Calibre Mining Completes Acquisition of Fiore Gold
ca.finance.yahoo.com
Calibre Mining Corp.
Wed., January 12, 2022, 5:37 a.m.·2 min read
VANCOUVER, British Columbia, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) and Fiore Gold Ltd. (“Fiore”) (TSXV: F; OTCQB: FIOGF) are pleased to announce the successful completion of the previously announced transaction pursuant to which, among other things, Calibre acquired all of the issued and outstanding common shares of Fiore (the “Fiore Shares”) pursuant to a court-approved plan of arrangement (the “Arrangement”).
Pursuant to the Arrangement, former Fiore shareholders received 0.994 of a Calibre common share (each whole share, a “Calibre Share”) and a cash payment of C$0.10 in exchange for each Fiore Share held. As a result of the Arrangement, Calibre issued an aggregate of 101,321,923 Calibre Shares and made an aggregate cash payment of approximately C$10.2 million. Upon closing of the Arrangement, existing Calibre and former Fiore shareholders own approximately 77% and 23% of the issued and outstanding Calibre Shares, respectively.
As a result of the Arrangement, Calibre acquired a 100% interest in Fiore’s operating Pan Gold Mine, adjacent advanced-stage Gold Rock Project and the past producing Illipah Gold Project in Nevada, as well as the Golden Eagle project in Washington State.
Delisting of the Fiore Shares
Calibre intends to cause Fiore to delist the Fiore Shares from the TSX Venture Exchange, to submit an application to cease to be a reporting issuer and to otherwise terminate its public company reporting requirements as soon as possible thereafter. The Calibre Shares issued under the Arrangement are expected to be listed and posted for trading on the Toronto Stock Exchange.
About Calibre Mining Corp.
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, no debt, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.
For further information, please contact:
Ryan King
SVP Corporate Development & IR
T: 604.628.1010
E: calibre@calibremining.com
W: www.calibremining.com
The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Information
This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs and current expectations of Calibre and Fiore with respect to future business activities and operating performance. All statements in this news release that address events or developments that Calibre and Fiore expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are often identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur, and include information regarding: (i) expectations regarding the potential benefits and synergies of the Arrangement and the ability of the combined company to successfully achieve business objectives, including integrating the companies or the effects of unexpected costs, liabilities or delays, (ii) expectations regarding the delisting of Fiore Shares from the TSX Venture Exchange and the listing of Calibre Shares issued under the Arrangement on the Toronto Stok Exchange, (iii) expectations regarding future exploration and development, growth potential for Calibre’s and Fiore’s operations, and (iv) expectations for other economic, business, and/or competitive factors.
Calibre’s and Fiore’s forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management of Calibre and Fiore at such time. Calibre and Fiore do not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements. |
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| To: LoneClone who wrote (162752) | 1/13/2022 2:25:28 PM | | From: LoneClone | | | | Tinka Increases Scale of The High-Grade Copper-Gold Discovery at Silvia NW
accesswire.com
Thursday, January 13, 2022 6:00 AM
VANCOUVER, BC / ACCESSWIRE January 13, 2022 / Tinka Resources Limited ("Tinka" or the "Company") (TSXV & BVL: TK) (OTCQB: TKRFF) is pleased to announce an exploration update at its 100% owned zinc-silver and copper-gold projects in Central Peru.
HIGHLIGHTS:
Silvia NW copper-gold project:
- Copper-gold mineralization at ‘Area A' has been significantly expanded with the discovery of high-grade copper-gold veins ("Skarn Veins") in limestone up to 100 metres across-strike from previously sampled mineralized skarn. The footprint of the skarn mineralization now covers an area of 550 metres by 400 metres including areas of shallow cover;
- Skarn Veins grade up to 1.1% copper and 7.9 g/t gold from 17 grab and rock chip samples over intervals of 0.1 to 0.3 metres - individual samples range between 0.02% and 1.1% copper, and between 0.05 g/t and 7.4 g/t gold;
- Previous sampling across the original skarn discovery outcrop at Area A included 46 metres at 1.9 g/t gold and 0.8% copper, including 6 metres at 2.7% copper and 12.8 g/t gold ( see release dated November 10, 2021);
- A preliminary mineralogical study of a high-grade copper-gold sample from Area A shows that gold occurs as fine-grained native gold up to 20 microns in size inside chalcopyrite, while primary copper mineralization occurs almost entirely as chalcopyrite with trace amounts of late covellite;
- At Silvia NW, Areas A, B and C define a potential footprint of 3 x 1 kilometres. Sampling results from Area B (including trenches and soils) are currently being collated and interpreted by our technical team;
- Field work has commenced in preparation for an Environmental Impact Declaration (or "DIA") to obtain the necessary permits for drilling at Silvia NW.
Ayawilca zinc-silver project:
- The Company continues to advance its flagship Ayawilca zinc-silver project, following the update of the project's PEA in October 2021, which highlighted the potential for Ayawilca to become a global top-10 zinc producer (see PEA news release dated October 14, 2021). Tinka is planning a resource extension and definition drill program at South Ayawilca during the first half of 2022. Details of this program will be announced soon.
Dr. Graham Carman, Tinka's President and CEO, stated: "Tinka's field work at Silvia NW continues to expand the scale of this exciting new copper-gold skarn prospect. The discovery of Skarn Veins in the limestone surrounding the original discovery outcrop is very important because it shows that the mineralized system is significantly wider than previously thought. Skarn deposits in Peru have formed some of the largest and highest-grade copper deposits in the world, prime examples being Antamina (a global top-10 copper mine) some 90 km to our north, and Las Bambas in southern Peru. A preliminary mineralogical study of the copper-gold mineralization at Silvia NW shows that copper occurs almost exclusively as chalcopyrite, while gold appears to occur mostly in the form of fine-grained native gold. Also, the mineralization at Zone A does not appear to contain significant levels of deleterious elements. Our team has continued its sampling and mapping program at Areas B and C, and we look forward to reporting progress once all results are received."
"At our flagship Ayawilca zinc-silver project, a geological reinterpretation of near vertical structures discovered at South Ayawilca in 2020 suggests that there is further potential to expand the high-grade silver-lead-zinc mineralization. We are planning to commence a resource extension and definition drill program during the first half of 2022, which will include drill holes aimed at expanding this style of mineralization, " Dr. Carman continued.
Updated Results at Silvia NW
Tinka's exploration program at Silvia NW has focused on the mapping and sampling of Area A, believed to expose the deepest and highest grade portion of the skarn system along the 3 km x 1 km trend.
Copper-gold mineralization at Area A lies in the base of a valley and has been mapped over a 550 metre by 400 metre area (see Geology map - Figure 2). Skarns are hosted by limestone of the Jumasha Formation (Cretaceous age) and within intrusive dikes (Tertiary age). Mineralized skarn is exposed in the central part of the area, surrounded by marble (recrystallized limestone). There are substantial areas of scree cover between outcrops of skarn, due to the steepness of the valley walls. Mineralized skarn is developed within both the limestone and intrusive dikes of quartz-feldspar-biotite porphyry. Multiple, subparallel structures orientated ENE-WSW and NE-SW, are believed to control the copper-gold mineralization.
"Skarn Veins" reported here have been mapped and sampled in the surrounding limestones on the western and southern side of Area A, some 100 metres from outcrops of continuous skarn near the centre of the valley (previously trench sampled - see Figures 2 and 3). Skarn Veins are hosted in a north-south oriented garnet skarn measuring up to 50 metres in strike length and up to 20 metres in thickness, developed in Jumasha Formation limestone. Strongly mineralized veins, which are largely oxidized, have multiple orientations and individual thicknesses up to 0.3 metres.
Skarn mineralization consists of garnet-magnetite-pyroxene-amphibole and other calcsilicates with chalcopyrite and pyrite. Copper mineralization occurs predominantly as chalcopyrite, while gold appears to occur mostly as native gold with possible telluride minerals (yet to be formally identified). The location and form of the Skarn Veins is shown in Figure 3. A photomicrograph of high-grade copper and gold mineralization from Area A, including native gold within chalcopyrite, is shown in Figure 4. Table 1 highlights the new copper-gold rock sample results from Area A.
Table 1. New surface sampling results from Area A in this release
| Sample type | No. of Samples
| Length m
| Cu %
| Au g/t
| Ag g/t
| | Trench | 1
| 1.8
| 0.11
| 0.18
| 1.8
| | Trench | 1
| 2.0
| 0.14
| 0.71
| 3.2
| | Trench | 2
| 4.0
| 0.19
| 3.54
| 5.0
| | Trench | 1
| 2.0
| 0.38
| 0.18
| 3.8
| | Trench | 1
| 2.0
| 0.72
| 0.34
| 3.5
| | Trench | 1
| 2.0
| 0.11
| 0.03
| 1.7
| | Trench | 2
| 4.0
| 0.58
| 1.23
| 16.2
| | Trench | 1
| 1.0
| 0.14
| 0.04
| 1.3
| | Trench | 1
| 0.3
| 2.62
| 0.44
| 32.8
| | Skarn vein - selected | 1
| 0.2
| 0.85
| 6.94
| 15.2
| | Skarn vein - selected | 1
| 0.2
| 0.91
| 5.96
| 22.0
| | Skarn vein - selected | 1
| 0.1
| 1.49
| 1.88
| 25.8
| | Skarn vein - selected | 1
| 0.1
| 1.55
| 7.37
| 28.4
|
Figure 1 - Location of Silvia NW and Ayawilca Projects in central Peru
 Figure 2 - Area A, highlighting copper-gold trench and rock chip results
 Figure 3 - Area A, highlighting the discovery of Skarn Veins in limestone and high-grade Cu-Au trench results
 Figure 4 - Photomicrograph of gold - copper minerals in high grade sample from Area A
 Notes: Au = gold. cpII = chalcopyrite. TLRs_Bi = possible tellurides with bismuth. Bmt = Bismuthinite. GGs = gangue minerals (mostly garnet and calc-silicates)
Notes on sampling and assaying
Trenches were dug up to a depth of 1 metre, where possible, across areas of outcrop (partially weathered) to test the grade of skarn and adjacent limestone and intrusions. Trench samples are continuous samples collected with hammer and chisel over 1 to 2 metre intervals. In areas of sporadic outcrop, samples are taken as semi-continuous rock chips. Tinka believes that the trench samples are representative of the outcrop and are non-selective. Selective samples were collected across narrow mineralized structures and are not necessary representative. Samples were bagged and labelled in the field. Samples were sent to Certimin laboratory in Lima where samples were dried, crushed to 90% passing 2mm, then 1 kg pulverized to 85% passing 75 microns. Gold was analysed by fire assay on 30 g (method G0108) and multi-element analysis by ICP using multi-acid digestion (method G0176). Gold assays above 10 g/t Au were re-assayed by a high grade fire assay method and a gravimetric finish (method G0014). Copper assays over 1% Cu were re-assayed by atomic absorption (method G0039). Standards and blanks were not inserted by Tinka but were inserted at the laboratory.
The Qualified Person, Dr. Graham Carman, Tinka's President and CEO, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the technical contents of this release.
About Tinka Resources Limited
Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca zinc-silver-tin project in central Peru. The Zinc Zone deposit has an estimated Indicated Mineral Resource of 19.0 Mt @ 7.15% Zn, 16.8 g/t Ag & 0.2% Pb and Inferred Mineral Resource of 47.9 Mt @ 5.4% Zn, 20.0 g/t Ag & 0.4% Pb (dated August 30, 2021 - see news release). The Ayawilca Tin Zone has an estimated Inferred Mineral Resource of 8.4 Mt grading 1.0% Sn. Tinka holds 46,000 hectares of mining claims in Central Peru, one of the largest holders of mining claims in the belt. Tinka is actively exploring for copper-gold skarn mineral deposits at its 100%-owned Silvia project.
Forward Looking Statements: Certain information in this news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively "forward-looking statements"). All statements, other than statements of historical fact are forward-looking statements. Forward-looking statements are based on the beliefs and expectations of Tinka as well as assumptions made by and information currently available to Tinka's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations: timing of planned work programs and results varying from expectations; delay in obtaining results; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; equipment failure, unexpected geological conditions; imprecision in resource estimates or metal recoveries; success of future development initiatives; competition and operating performance; environmental and safety risks; the Company's expectations regarding the Ayawilca Project PEA; the political environment in which the Company operates continuing to support the development and operation of mining projects; risks related to negative publicity with respect to the Company or the mining industry in general; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; delays in obtaining or failure to obtain necessary permits and approvals from local authorities; community agreements and relations; and, other development and operating risks. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Although Tinka believes that assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, Tinka disclaims any intent or obligation to update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Tinka Resources Ltd. |
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| To: LoneClone who wrote (162753) | 1/13/2022 2:34:17 PM | | From: LoneClone | | | | Fireweed Drills 6.9% Zinc, 5.0% Lead, and 48.7 g/t Silver over 11.7 m True Width at Tom East
fireweedzinc.com
Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF) is pleased to announce further assay results from the 2021 drilling program at the Macmillan Pass project, Yukon, Canada where an infill hole at Tom East (see Maps 1 & 2) encountered high-grade laminated mineralization.
Highlights - Hole TS21-001 intersected 10.41% zinc, 11.58% lead, and 149.9 g/t silver over 7.99 m (true width 2.46 m) within a broader interval of 6.92% zinc, 5.03% lead, and 48.7 g/t silver over 37.99 m (11.70 m true width).
- Tom East is the highest-grade deposit on the property and remains open for expansion.
- Assay results from the last two holes at Boundary West are pending.
Table 1: Drill Results, Tom East Zone
Brandon Macdonald, CEO, stated
“Tom East continues to deliver high-grade results consistent with previous drilling in the area. As we continue to develop the resource, it is highly encouraging that we continue to intersect these wide high-grade zones. These results will be used to guide future drilling, enhance existing geological models, and upgrade the resource. In the coming weeks, we look forward to more drill results from the last two holes at Boundary West.”
Tom East Drilling Results
Hole TS21-001 was drilled at Tom East, a high-grade zone within the Tom deposits area (Maps 1 and 2). Tom East hosts a current Mineral Resource of 0.81 Mt at 8.74% zinc, 8.62% lead, and 110.0 g/t silver Indicated Resource in addition to 1.68 Mt at 9.86% zinc, 12.86% lead and 170.0 g/t silver Inferred Resource (see Fireweed news releases dated January 10th, 2018, and reports filed on www.sedar.com for details). The Tom East Zone is hosted within and around the hinge of a tight north-plunging syncline fold containing stratiform laminated sphalerite, galena, and barite mineralization. The mineralization is hosted by late-Devonian diamictite and carbonaceous mudstones in the Portrait Lake Formation (Earn Group).
Photo 1: Hole TS21-001 at 148.53-148.73 m illustrating laminated high-grade mineralization.
The mineralization comprises laminated to massive sulphides, predominantly consisting of thinly laminated sphalerite, galena, barite, and chert. Soft-sediment deformation has created chaotic laminae (Photo 1) further distorted by regional folding. Mineralization is consistent with other intervals encountered within the Tom East and Tom West zones. Geological information from this hole will inform ongoing geological models for resource expansion.
Notes on sampling, assaying, and data aggregation:
The diamond drill core logging and sampling program was carried out under a rigorous quality assurance / quality control program using industry best practices. Drill intersections in this release are all HQ3 (split tube) size core (61.1mm / 2.4-inch diameter) with recoveries typically above 85% unless otherwise noted in the table of results. After drilling, core was logged for geology, structure, and geotechnical characteristics, then marked for sampling and photographed on site. The cores for analyses were marked for sampling based on geological intervals with individual samples 1.5 m or less in length. Drill core was cut lengthwise in half with a core saw; half-core was sent for assays reported in this news release, and the other half is stored on site for reference. Bulk density was determined on site for the entire length of each sample assayed by measurement of mass in air and mass in water. Sample duplicate bulk density determinations and in-house bulk density standard determinations were each made at a rate of 5%. Since 2017, four in-house bulk density standards (mineralized drill core from the Tom deposit that span a range of densities) have been used and show an acceptable long-term precision. Certified standard masses are used to calibrate the scale balance used for bulk density determinations.
A total of 5% assay standards or blanks and 5% core duplicates are included in the sample stream as a quality control measure and are reviewed after analyses are received. Standards and blanks in 2021 drill results to date have been approved as acceptable. Duplicate data add to the long-term estimates of precision for assay data on the project and precision for drill results reported is deemed to be within acceptable levels. Samples were sent to the Bureau Veritas preparation laboratory in Whitehorse, Yukon, where the samples were crushed and a 500 g split was sent to the Bureau Veritas laboratory in Vancouver, B.C to be pulverized to 85% passing 200 mesh size pulps. Clean crush material was passed through the crusher and clean silica was pulverized between each sample. The pulps were analyzed by 1:1:1 Aqua Regia digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-ES/ICP-MS) multi-element analyses (BV Code AQ270). All samples were also analyzed for multiple elements by lithium borate fusion and X-ray fluorescence analysis (XRF) finish (BV Code LF725). Over-limit Pb (>25.0%) and Zn (>24.0%) were analyzed by lithium borate fusion with XRF finish (BV Code LF726). Silver is reported in this news release by method AQ270, and zinc and lead are reported by LF725 or LF726. Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2005 accredited laboratory.
Results in this news release are length and bulk-density weighted averages as would be used in a Mineral Resource estimate. Readers are cautioned that in Fireweed news releases prior to 2020, only length weighted assay averages were reported which may result in slightly lower (under-reported) average values. Length and bulk-density weighted averages have been reported as these most accurately represent the average metal-content of the intersections.
Qualified Person Statement
Technical information in this news release has been approved by Jack Milton, P.Geo., Ph.D., Chief Geologist and a ‘Qualified Person’ as defined under Canadian National Instrument 43101.
About Fireweed Zinc Ltd. (TSXV: FWZ)
Fireweed Zinc is a public mineral exploration company managed by a highly experienced team of mining industry professionals. The Company is advancing its district-scale 940 km2 Macmillan Pass Project in the Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits with current Mineral Resources and a PEA economic study (see Fireweed news releases dated January 10, 2018, and May 23, 2018, respectively, and reports filed on www.sedar.com for details) as well as the Boundary Zone, Tom North Zone and End Zone which have significant zinc-lead-silver mineralization drilled but not yet classified as mineral resources. The project also includes large blocks of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben, and Stump) which cover exploration targets in the district where previous and recent work identified zinc, lead and silver prospects, and geophysical and geochemical anomalies in prospective host geology.
In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com. In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.
Additional information about Fireweed Zinc and its Macmillan Pass Zinc Project including maps and drill sections can be found on the Company’s website at www.FireweedZinc.com and at www.sedar.com.
ON BEHALF OF FIREWEED ZINC LTD.
“Brandon Macdonald”
CEO & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements
This news release may contain “forward-looking” statements and information relating to the Company and the Macmillan Pass Project that are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, general economic conditions, changes in financial markets, pandemics, the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, and one-time events. Additional risks are set out in the Company’s prospectus dated May 9, 2017, and filed under the Company’s profile on SEDAR at www.sedar.com. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.
Map 1: Location of Macmillan Pass deposits and exploration targets.
Map 2: Location of Tom East drill hole TS21-001, for results reported in the release.
Table 2: 2021 drill hole results and observations.
Table 3: 2021 drill collar details
*UTM Zone 9 NAD83. Final RTK GPS surveyed locations.
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| To: LoneClone who wrote (162754) | 1/13/2022 2:40:07 PM | | From: LoneClone | | | | Element79 Gold Increases Capital Position, Stakes Additional Claims
accesswire.com
Wednesday, January 12, 2022 5:00 AM
VANCOUVER, BC / ACCESSWIRE / January 12, 2022 / Element79 Gold Corp. (CSE:ELEM)(OTC PINK:ELMGF)(FSE:7YS) ("Element79 Gold", the "Company") is pleased to provide an update on its ongoing progress within the Abitibi Subprovince targeting bulk tonnage style gold mineralization at the Dale Property in Ontario, Canada.
The Company has made all payments required to satisfy the existing agreement on the Dale Property until December 31, 2022 and, following the completion of its Phase 1 Exploration Program, Element79 Gold has increased the size of its existing 1,735 hectare property by staking an additional 245.5 hectares directly adjacent to the Western and North-Western borders of its existing claims, bringing the total land package to 1,980.5 hectares.
"Further interpretation of magnetic surveys and historic prospecting has reinforced the value of these newly-staked claims on the West-Northwest borders of the Dale Property," stated President and CEO of Element79 Gold, James Tworek. "With the completed acquisition of our Nevada gold assets, the Company is on track to meet all short-term and mid-term development goals across our growing portfolio of properties."
Work Program Leadership and Team: A Long History of Mining
Element79 Gold is pleased to have the experienced leadership of its director, Mr. Neil Pettigrew, M.Sc, P.Geo., and his team at Fladgate Exploration Consulting Corporation ("Fladgate") managing the Phase 1 program on the Dale Gold Property. The Fladgate team has historically worked with clients such as Barrick Gold Corporation ("Barrick Gold") (NYSE listed) and Newmont Corporation ("Newmont") (NYSE listed) and several names which have gone on to be acquired including Goldcorp, Inc. (acquired by Newmont), PC Gold Inc. (acquired by First Mining), and Placer Dome (acquired by Barrick Gold).
2021 Dale Gold Property Phase I Exploration Program Highlights in Ontario
Following up on the high-resolution data obtained from the drone-based magnetic survey completed by Element79 Gold in 2021, Element79 Gold has completed its Phase 1 Exploration Program, consisting of trenching, channel sampling, prospecting, mapping and soil sampling following up on historic prospecting by the vendors of the property which has yielded up to 3.82 g/t gold, including several highly anomalous samples grading greater than 0.1 g/t gold, with assay results pending. The mineralization present on the Dale property is associated with zones of strong silicification and disseminated pyrite, which the Company believes are prospective for bulk tonnage style gold mineralization. The Company intends to pursue the Phase 2 work program (including 1,500m of diamond drilling) as recommended within the 43-101 Technical Report following favourable results from Phase 1.(1)
Surrounding Area Hosts Some of the World's Largest Gold Deposits
The Dale Property is a highly prospective early-stage gold project located in the Swazye greenstone belt, which is turn is part of the Abitibi Subprovince which hosts some of the world's largest gold deposits, e.g. the Timmins camp which has produced over 70 million ounces of gold (Figure 1). The Swazye greenstone belt is best known for hosting IamGold's Côté Lake deposit which contains 10.2 million ounces Measured and Indicated and 3.8 million ounces Inferred(2), and is located 50 km southeast of the Dale Property (Figure 1). The Côté Lake project received a Positive Construction Decision in July 2020(3) and plans to achieve commercial production in 2023.
 Figure 1. Simplified Regional Geology of the Dale Project Area, showing nearby significant deposits and producing mines.(4)
Update on Upcoming NI 43-101 Technical Report
Element79 Gold is also pleased to provide an update on the in-progress NI 43-101 Technical Reports (each, a "Technical Report") for the Maverick Springs Project in Nevada and the Snowbird High-Grade Gold Project in British Columbia. The Technical Report for the Maverick Springs Project, in progress by SGS Canada Inc., is expected to be completed by the end of January 2022. The Technical Report for the Snowbird High-Grade Gold Project, in progress by Axiom Exploration Group Inc., is expected to be completed by the end of February 2022.
Crescita Capital Equity Line Drawdown
In order to ensure adequate working capital on hand, Element79 Gold's board and management have elected to draw down additional capital from its Crescita Capital equity line facility. The funds will be directed towards ongoing development on the Company's growing portfolio of properties.
Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Director of Element79 Gold and a "qualified person" as defined by National Instrument 43-101.
About Element79 Gold
Element79 Gold is a mineral exploration company focused on the acquisition, exploration and development of mining properties for gold and associated metals within the mining-friendly jurisdictions of Nevada, British Columbia, and Ontario. In Nevada, the Company is closing on its acquisition of the flagship Maverick Springs Project, which consists of 247 unpatented mining claims on the border of Elko County and White Pine County, Nevada, and the Battle Mountain Portfolio, which consists of 2,203 unpatented mining claims in Elko County, Eureka County, Humbolt County, Lander County, and Nye County, Nevada. In British Columbia, the Company has executed a Letter of Intent to acquire a private company which holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. In Ontario, the Company has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township. For more information about the Company, please visit www.element79.gold or www.element79gold.com
Contact Information
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer
E-mail: jt@element79gold.com
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1 (604) 200-3608
E-mail: investors@element79gold.com
Technical Disclaimer
This news release and related maps contain information about adjacent properties and properties with similar characteristics on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties or properties that share similar characteristics are not indicative of mineral deposits on the Company's properties. Readers are also cautioned that this news release contains historical technical information which is based on prior data prepared by previous property owners. A qualified person has not done sufficient work to confirm such information; significant data compilation, re-drilling, re-sampling and data verification may be required to do so.
Cautionary Note Regarding Forward Looking Statements
This press contains "forward-looking information" and "forward-looking statements" under applicable securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company's business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; acquisition opportunities; and the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements".
Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the duration and effects of the coronavirus and COVID-19; risks related to the integration of acquisitions; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; accidents; labour relations; relations with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion of development or construction activities; exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks; reclamation expenses; outcomes of pending litigation; limitations on insurance coverage as well as those factors discussed in the Company's other public disclosure documents, available on www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.
Sources
Element 79 Gold makes no warranty as to the completeness, accuracy, verifiability, or suitableness of any of the information contained on the following third-party links and expressly undertakes no obligation to update the following links.
(1) Element79 Gold Corp., May 4, 2021, 43-101 Technical report on the Dale Property, Section 9.6, available on SEDAR
(2) IamGold Corp., February 17, 2021, Annual Information Form s2.q4cdn.com
(3) IamGold Corp., July 21 2020, News Release iamgold.com
(4) Figure 1.
A. Cote Lake Deposit: IamGold Corp., February 17, 2021, Annual Information Form s2.q4cdn.com
B. Island Gold Deposit: Alamos Gold Inc., March 23, 2021, Annual Information Form, s24.q4cdn.com
C. Borden Deposit: Probe Mines Ltd., June 10, 2014, 43-101 Technical Report: Mineral Resource Estimate Update, Borden Gold Project, Project No. V1393, available on SEDAR
D. Jerome Deposit: Augen Gold Corp., August 6, 2011, 43-101 Technical Report on a Resource Estimate on the Jerome Mine Property, available on SEDAR
E. Timmins Camp Gold Production: DigiGeoData, June 2021 Map pr.report
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Element79 Gold Corp. |
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| To: LoneClone who wrote (162755) | 1/13/2022 2:40:51 PM | | From: LoneClone | | | | Delta Resumes Drilling at the Delta-2 VMS Property in Chibougamau, Quebec, in Search of the Lemoine Mine "2.0"
newsfilecorp.com
Kingston, Ontario--(Newsfile Corp. - January 12, 2022) - Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) ("Delta" or "the Company") is pleased to announce that it has returned to the field to begin a comprehensive drilling program at the Delta-2 VMS Property, 35 kilometres southeast of Chibougamau, Quebec.
Crews are mobilizing today from Delta, Miikan Drilling and Native Exploration Services of Ouje- Bougoumou, for the start of an exciting first phase of drilling that will likely be ongoing until the spring breakup.
Delta will be targeting up to 30 high-priority VTEM conductors showing geophysical signatures typical of VMS deposits as well as three (3) deep gravity anomalies with responses comparable to those over known world-class VMS deposits (see press release June 22, 2021).
Up to 36 drill holes are planned at the property-scale for a possible total of 7,400m, with highest priority holes drilled first.
Qualified Person
Andre Tessier, P.Eng and P.Geo. and President of Delta Resources Limited is a Qualified Person as defined by NI-43-101 and is responsible for the technical information presented in this press release.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the exploration of two very high-potential gold and base-metal projects in Canada.
- DELTA-1, 45 km2 located 50km west of Thunder Bay, Ontario where an extremely high gold-in-till anomaly and kilometre-scale gold-bearing alteration halo point to a never-tested regional structure.
- DELTA-2 GOLD and DELTA-2 VMS, 200 km2 in the prolific Chibougamau District of Quebec, with a potential for hydrothermal-gold and gold-rich VMS deposits.
Delta has 49M shares outstanding is currently fully funded for its 2022 exploration program and in addition, is set to receive $400,000 on March 1st, 2022, through the sale of its Bellechasse-Timmins gold project in SE Quebec.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
Andre C. Tessier
President, CEO and Director
www.deltaresources.ca
We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not approved nor disapproved of the information contained herein.
For Further Information:
Delta Resources Limited
Frank Candido, Chairman, VP Corporate Communications
Tel: 514-969-5530
fcandido@deltaresources.ca
or
Andre Tessier, CEO and President
Tel: 613-328-1581
atessier@deltaresources.ca
Cautionary Note Regarding Forward-Looking Information
Some statements contained in this news release are "forward-looking information" within the meaning of Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding: the samples may be proximal to a rich bedrock source for the gold; the possibility of the same source for gold mineralization; and the initiation of a property-scale till survey in September. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event. |
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